Cash strapped Ford has announced plans that it intends to re-evaluate their relationship with Volvo, which in non-PR speak translates into a sale of the brand.

Cash strapped Ford has announced plans that it intends to re-evaluate their relationship with Volvo, which in non-PR speak translates into a possible sale of the brand. If the company were to sell Volvo, it would mark the end of the last remaining member of the company's once strong Premier Automotive Group which included Land Rover, Aston Martin, and Jaguar.

Given the downturn of the global economy and strong declines in sales, especially in the last three months, Ford considered the review of Volvo brand necessary. Ford's CEO, Alan Mulally, stated that "Volvo is a strong global brand with a proud heritage of safety and environmental responsibility and has launched an aggressive plan to right-size its operations and improve its financial results. As we conduct this review, we are committed to making the best decision for both Ford and Volvo going forward."

Volvo currently features a fresh product lineup that includes the new XC60 and recent redesigns of the XC70, V70 and S80. The company is scheduled to show a new S60 concept at the North American International Auto Show and has also announced plans to introduce seven low-emission models in 2009.

Ford stated that the review could take several months to complete and for now Volvo operations will continue as planned.